Bitcoin ETFs Log a Fourth Outflow This Month
US spot Bitcoin ETFs recorded net outflows of about $65.4 million on October 12, the fourth negative session of the month. BlackRock's fund accounted for the entire amount. Even so, cumulative net inflows since launch still stand at roughly $57 billion, and total net assets of about $106 billion represent just over 6% of Bitcoin's market capitalization.
The latest drop follows a heavier week. Between October 5 and 9, Bitcoin funds shed roughly $681 million, ending a three-week streak of inflows. Combined with Ether products, outflows for the week exceeded $1.2 billion.
Ether Funds Extend Their Losing Streak
Ethereum ETFs fared worse on Monday, losing about $85.4 million. That marked the eighth consecutive day of outflows, with BlackRock responsible for roughly $75 million and Grayscale for about $10 million. Solana funds also saw a sixth straight day of small outflows, while XRP products recorded no net flows at all.
Why Macro Pressure Matters for Crypto
The fund data landed against a difficult macro setting. The yield on the 10-year US Treasury note slipped below 5.2% on Tuesday, easing from multi-decade highs reached earlier this month. Yields at these levels give investors a competitive, income-paying alternative to Bitcoin, which generates no yield. Brent crude also remains elevated, trading above $100 a barrel, which keeps inflation worries alive.
Bitcoin has moved in a tight band of roughly $82,000 to $84,000 over the past day, with $82,000 widely watched as a support zone. A sharp tech-led selloff in Asia briefly pushed traders toward safer assets, yet Bitcoin showed some resilience against falling equity futures.
What Traders Are Watching Next
The most important event this week is the US consumer price index report for September, due on Wednesday. A softer reading could strengthen the case for the Federal Reserve to pause, which would ease pressure on both bonds and risk assets. A hotter number would likely keep rate-hike fears in play and could extend the ETF outflow trend.
Issuers, meanwhile, continue to build for the long term. Canary Capital has filed an amended prospectus for a Pepe-themed ETF, and REX Shares and Osprey Funds have updated a staking-focused filing with an October 23 target date. These moves suggest that product development is moving ahead despite weaker short-term demand.
Outlook
Current flow data points to caution rather than panic. If inflation cools and yields keep easing, ETF demand could stabilize. If not, Bitcoin may stay range-bound while institutional investors wait for clearer signals. This article is for informational purposes only and does not constitute financial advice.
